At Robinhood, a quarter of all employees have to leave

The discount broker wanted to “democratize” the financial world. Instead, he downplays risks, bends rules, sells sensitive information and posts losses. One wave of layoffs follows the next. The stock has crashed.

Robinhood – the initial euphoria on the stock market has long since evaporated.

Andrew Kelly / Reuters

When someone promises the moon, caution is advised. This applies not only to the world of alleged “crypto-return miracles”, but also to seemingly innovative securities brokers such as Robinhood. Its founders may have started seven years ago with the full-bodied promise to “democratize” securities trading and to practically reinvent the wheel with an allegedly easy-to-use, super-cheap app for the benefit of “small private investors”. These dreams have long since burst.

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